LPL Financial LLC Decreases Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

LPL Financial LLC reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 13.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 449,539 shares of the company’s stock after selling 72,404 shares during the period. LPL Financial LLC owned 0.09% of Conagra Brands worth $12,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS purchased a new stake in Conagra Brands in the 4th quarter valued at $5,034,000. Virtu Financial LLC purchased a new position in Conagra Brands during the fourth quarter worth about $235,000. Summit Global Investments acquired a new position in Conagra Brands in the 4th quarter valued at about $6,713,000. Kiker Wealth Management LLC acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $369,000. Finally, Northwest & Ethical Investments L.P. purchased a new stake in shares of Conagra Brands during the 4th quarter valued at approximately $1,173,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 1.1 %

Conagra Brands stock opened at $26.32 on Thursday. The firm has a market capitalization of $12.56 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The stock’s fifty day simple moving average is $25.69 and its 200-day simple moving average is $27.52.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.32%. Conagra Brands’s payout ratio is presently 137.25%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CAG shares. Morgan Stanley began coverage on Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Citigroup lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Finally, Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and an average price target of $28.20.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.